LOS ANGELES -- Visa says its profit jumped 25 percent in the last three months of 2012 as consumers racked up more credit card debt and used their debit cards more often.

The San Francisco payments processing company also expanded a program to buy back its stock.

Visa says that its fiscal first-quarter net income totaled $1.3 billion, or $1.93 per share, in the three months ended Dec. 31. That compares with net income of $1.03 billion, or $1.49 per share, a year earlier.

Revenue rose nearly 12 percent to $2.85 billion.

Analysts polled by FactSet had forecast earnings of $1.79 per share on revenue of $2.82 billion.

Visa makes money by processing card transactions. Its results provide insight into how much consumers are spending.

A Visa sign is seen on a cashier’s desk at a restaurant in Yangon in this January 31, 2013 file photograph.  Visa Inc’s first-quarter profit
A Visa sign is seen on a cashier's desk at a restaurant in Yangon in this January 31, 2013 file photograph. Visa Inc's first-quarter profit rose 30 percent, the company reported February 6, 2013, and the world's largest credit- and debit-card network authorized a new $1.75 billion share repurchase program. REUTERS/Soe Zeya Tun/Files (Soe Zeya Tun)

Shares slipped 82 cents to $160 in after-hours trading.



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